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Written question asked by Norman Baker (Liberal Democrat) on Wednesday, 8 October 2008, in the House of Commons. It was due for an answer on Monday, 13 October 2008. It was answered by Mike O'Brien (Labour) on Tuesday, 25 November 2008 on behalf of the Department of Energy and Climate Change.

Oil: Prices

Question
To ask the Secretary of State for Energy and Climate Change pursuant to the Answer of 20 May 2008, Official Report, column 256W, on oil: prices, what his Department's current oil price assumptions are for (a) 2010, (b) 2015 and (c) 2020.
Answer

[holding answer 13 October 2008]: DECC's latest future fossil price assumptions were published by BERR in May 2008, following a consultation published in January. In order to capture uncertainty around the outturn of future fossil fuel prices, the assumptions are presented in the form of four illustrative scenarios. Our price assumptions, and further details on the corresponding scenarios, are available through the following links:"http://www.berr.gov.uk/whatwedo/energy/environment/projections/recent/page26391.html""http://www.berr.gov.uk/files/file46071.pdf"The oil price assumptions for the years given are as follows:

Price ($/bbl)
Scenario 2010 2015 2020
Low 45 45 45
Central 65 68 70
High 85 90 95
High-High 107 150 150

Secondary information

Type
Written question
Reference
483 c1473-4W; 226668
Session
2007-08
Related items
Oil: Prices
Tuesday, 20 May 2008
Written questions
House of Commons
Transferred
Yes
Subjects
Oil Prices
Link
View this Written question on www.publications.parliament.uk